The shares of Kashyap, Motwane and Bahl, who otherwise would have continued to hold and enjoy a 12.5 per cent share each, have been bought by Madhu Mantena. So, hereafter, Phantom Films will be a JV (Joint Venture) between Madhu Mantena’s new company Mad Man Ventures and Reliance Entertainment, both parties holding 50 per cent. Earlier, it was a JV between Madhu-Kashyap-Motwane-Bahl (50 per cent) and Reliance Entertainment (50 per cent).
So, how did it all happen? A source says, “One thought it was all over for Phantom Films as a brand but Madhu had ideas to keep it alive. Madhu got in touch with Kashyap, Motwane and Bahl and expressed an interest to buy their stakes. The three of them agreed, the modalities were fast worked out, the dealing was implemented and completed amicably.”
When contacted, Madhu Mantena confirmed the story.
Established in 2013, Phantom Films produced many films- ‘Lootera’, ‘Queen’, ‘NH 10’, ‘Bombay Velvet’, ‘Shaandaar’, ‘Manmarziyaan’ amongst others. Reliance Entertainment picked up 50 per cent stakes in it in March 2015. After Kashyap, Motwane, Bahl and Mantena went separate ways two years ago, two projects of Phantom Films saw the light of day- ‘Super 30’, ‘Sacred Games’. One venture ’83 remains to be released. All three were set up and locked prior to the split.